MBDA, L&T form Indian joint venture
MBDA has formed a joint venture with India's Larsen and Toubro (L&T) to develop and supply missiles and missile systems to meet the growing potential requirements of the Indian armed forces. MBDA announced the development on 13 February.
Named L&T MBDA Missile Systems, the joint venture will be incorporated in the first half of this year, pending necessary approvals. L&T will own 51 percent of the company and MBDA, 49 percent.
L&T and MBDA have previously collaborated and partnered on co-development and production of major subsystems involving complex technologies and sophisticated weapon systems such as MICA missile launchers and airframe segments including control actuation units for Indian Ministry of Defence orders.
The joint venture will focus on business opportunities in the missiles and missile systems domain. This will begin with a project aiming to develop and supply fifth generation anti-tank guided missiles, missiles for coastal batteries and high speed target drones.
Antoine Bouvier, CEO, MBDA, said: 'Our business strategy in India has always focused on forming partnerships at the deepest level, not just with the armed forces but also with Indian industry. This has seen us involved in the transfer of technology and the production of products and components with the state-owned Defence Public Sector Undertakings and also with the establishment of very close partnerships with the Indian private sector including large companies and SMEs.
'The setting up of this joint venture is a natural progression of our partnership strategy. With L&T, I am convinced that we have found the ideal Indian partner.'
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